Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1887-12-01
COMMERCIAL.
THE TRADE OUTLOOK BRIGHT.
Foreign Capital Still Pouring in to
Replace the Treasury Surplus.

In all directions business prospects are i'm
proving, although the situation nowhere just-
fies such speculative wildness as has appear
ed in some branches. Money still goes to the
West, and even more TO the South, the bank
ers anticipate some pressure as the new year
approaches, but the Treasury has increased its
deposits with banks $1,5T2, ,1s2 during the
past week, and so has withdrawn from mar
kst only 100000 cash. Plans of tariff re-
duction attract attention, but do not seem as
yet to have affected the demand for pro
ducts. Exchanges running nearly Sper cent.
above those Of corresponding weeks last year,
and railroad earnings showing an increase
exceeding 10 per cent, with shipments from
Chicago by rail 5000 tons larger than the
same week last year, indicate volume Of
traffic never surpassed at this season, though
re-action from the greater activity of Septem-
Der, causes in some branches, complaint of
dullness
The most important fact is that investment
of foreign capital in this country still con-
tinues. The latest evidence, sale of S. 000,-
600 Northern Pacific bonds to a foreign syn
dicate, came at time when foreign sales of
stocks appeared to foreshadow contrary
movement In movement October merchand-
ise exports amounted to S76, ,050, ,005, the
largest October report for five years, and ex-
ceeded imports by s15,1s6,O07; deducting
undervaluations, interest and other items, the
advance Of merchandise account would be not
more than $5,OOO,OOO, leaving most of the
net imports Of specie, which were $11, ,6S3, 754,
to represent the new foreign capital brought
hither.
Nevertheless, the effects of partial loss of
crops is beginning to be felt. From most
quarters come complaints that collections are
slow or only fair and, though rapid market
ing Of products has brought relief at most
Southern and Western points, at many 9TH
ers money is close and rates high. At Boston
the danger Of large mercantile reverse has
been averted and a better tone prevails;
at Philadelphia business reaction from past
unusual activity is felt and money is in gool
supply; at Western centers the country de-
mand still continues and the markets are
generally close.
Large railroad earnings are met in many
cases by unwonted increase in expenses; thus
the Pennsylvania shows q decrease in net
earnings of $139, $50 for October, and the
New York Central increased gross earnings
$3.50, ,926 for the last quarter, but expenses in
creased 81 185, ,392 so that net earnings fell off
1852, ,465. Stocks closed Wednesday about so
cents per share higher than last week, but
showed hesitation at the close, and declined
Friday forenoon fraction. Breadstuffs
have advanced, wheat 1-2 cents, oats SO c.,
and corn rose sharply on Friday: pork has
advanced 25 cents per barrel, ard lard
10 cents per 100 lbs, though hogs
are lower. The iron market is still weak at
Pittsburg, but shade flrmer for No. at
Philadelphia, because of a scarcity of the best
grades A decline in British exports to this
country from 120,Os5 tons in September to
90, ,142 in October encourages the trade
Cotton goods are very Arm and some makes
advance again. The wooden trade is quiet,
with few new orders. A break in provisions
on Wednesday was followed by recovery the
same day. Coal is scarce and higher, the
strike being called the cause, although the
actual output last week was larger, in spite
ofthe strike, than that of the same week last
year. Overp production was given as the rea-
sonfor curtailment or stoppage of some sugar
refneries, but the price quickly improved
and current statistics sustain estimates that
the worlds consumption this year will close
ly approximate the supply. Bureau esti
mates of the cotton crop are still disputed,
but the market has grown stronger in the be-
lief that Southwes ern forest fires will delay
shipment.
The business failures during the last seven
days numbered for the United States 1877,
and for Canada 20; total 207, as compared
with 224 last week and III the week
| previous to the last. Same week 1885,
216